PBEU vs. HSBH

Last updated Jun 24, 2026

PBEU (Portfolio Building Block European Banks Index ETF) and HSBH (HSBC Holdings plc ADRhedged ETF) are both Financials Equities funds - PBEU tracks the BITA European Banks Index while HSBH tracks the HSBC Holdings plc Local Shares Total Return. Both are passively managed. Their correlation of 0.82 suggests significant overlap in exposure. PBEU charges 0.13%/yr vs 0.19%/yr for HSBH.

Performance

PBEU vs. HSBH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Portfolio Building Block European Banks Index ETF (PBEU) and HSBC Holdings plc ADRhedged ETF (HSBH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBEU achieves a 13.63% return, which is significantly lower than HSBH's 26.93% return.

PBEU

• 1D: -1.42%
• 1M: 7.22%
• YTD: 13.63%
• 6M: 14.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HSBH

• 1D: -0.47%
• 1M: 5.69%
• YTD: 26.93%
• 6M: 26.23%
• 1Y: 71.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PBEU vs. HSBH - Yearly Performance Comparison

	2026 (YTD)	2025
PBEU Portfolio Building Block European Banks Index ETF	13.63%	11.42%
HSBH HSBC Holdings plc ADRhedged ETF	26.93%	10.46%

Correlation

The correlation between PBEU and HSBH is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.82

Return for Risk

PBEU vs. HSBH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBEU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HSBH

HSBH Risk / Return Rank: 90
HSBH Sharpe Ratio Rank: 93
HSBH Sortino Ratio Rank: 91
HSBH Omega Ratio Rank: 90
HSBH Calmar Ratio Rank: 89
HSBH Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBEU vs. HSBH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block European Banks Index ETF (PBEU) and HSBC Holdings plc ADRhedged ETF (HSBH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PBEU	HSBH	Difference
Sharpe ratio: Return per unit of total volatility	—	3.02	—
Sortino ratio: Return per unit of downside risk	—	3.80	—
Omega ratio: Gain probability vs. loss probability	—	1.52	—
Calmar ratio: Return relative to maximum drawdown	—	4.83	—
Martin ratio: Return relative to average drawdown	—	17.50	—

Drawdowns

PBEU vs. HSBH - Drawdown Comparison

The maximum PBEU drawdown since its inception was -17.26%, which is greater than HSBH's maximum drawdown of -14.81%. Use the drawdown chart below to compare losses from any high point for PBEU and HSBH.

Drawdown Indicators

	PBEU	HSBH	Difference
Max Drawdown Largest peak-to-trough decline	-17.26%	-14.81%	-2.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.81%	—
Current Drawdown Current decline from peak	-1.42%	-0.47%	-0.95%
Average Drawdown Average peak-to-trough decline	-3.94%	-2.33%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.08%	—

Volatility

Volatility by Period

	PBEU	HSBH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.63%	23.64%	+3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.63%	22.88%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.63%	22.88%	+4.75%

PBEU vs. HSBH - Expense Ratio Comparison

PBEU has a 0.13% expense ratio, which is lower than HSBH's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PBEU vs. HSBH - Dividend Comparison

PBEU's dividend yield for the trailing twelve months is around 0.01%, less than HSBH's 2.34% yield.

Position	TTM	2025
HSBH HSBC Holdings plc ADRhedged ETF	2.34%	0.00%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%

Frequently Asked Questions

Can I hold both PBEU and HSBH in my portfolio?

PBEU and HSBH have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBEU or HSBH?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBEU or HSBH?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.19% for HSBH.

Which ETF pays a higher dividend yield, PBEU or HSBH?

HSBH has the higher dividend yield at 2.34%, compared with 0.01% for PBEU.

What is the main difference between PBEU and HSBH?

PBEU tracks BITA European Banks Index, while HSBH tracks HSBC Holdings plc Local Shares Total Return. They also come from different issuers: Portfolio Building Block and ADRhedged. Their fees differ too: 0.13% for PBEU and 0.19% for HSBH.